| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 31 July 2020 |
| Pathway(s) | Significant business assets |
| Investment | An overseas investment in significant business assets, being 100% of the shares on issue in UDC Finance Limited, the consideration of which exceeds $100m. |
| Consideration | Approximately $762,000,000 |
| Applicant | Shinsei Bank, Limited Japanese Public (46.3685%) United States Public (39.0816%) United Kingdom Public (6.093%) Various overseas persons (4.9917%) Norway Public (2.4305%) Netherlands Public (1.0347%) |
| Vendor | ANZ Bank New Zealand Limited Australian Public (97.54%) New Zealand Public (1.38%) Various overseas persons (1.08%) |
| Background | The Applicant is a widely-held Japanese bank listed on the Tokyo stock exchange. The Applicant considers UDC will complement its existing portfolio of credit and lending businesses, and that the transaction is consistent with its acquisition strategy. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Andrew Matthews Simpson Grierson (Auckland) Private Bag 92518 AUCKLAND 1141 |